Do You Write Off Advertising Cost (PPC, SEO, Etc)

[simmonsmike7]

Being somewhat new to the IM/biz world, I was wondering if these are things that can be written off...

Pay Per Click Cost
SEO Cost
Article Writing
Video Development

All expenses in my book.

What do YOU think?

[Steven Carl Kelly]

Naturally. All legitimate business expenses.

[simmonsmike7]

Thanks Steven for the quick response, just wanted to clarify this...

[noah.whitmore]

I think that more people that are new to the IM industry should pay attention to this stuff like you are. I'm definitely not the most experienced here, but I think that it's very important to run your online business in a professional way, just like you would run an offline business.

Keep track of all of your expenses. Just because you are buying online advertising like PPC, it doesn't make those costs un-official. Also, keep track of services that you purchase, like content writers and graphic designers. Just remember to keep your receipts and invoices just in case you are audited.

-Noah Whitmore

[Steven Carl Kelly]

I pay for everything that I can business-related with my business AMEX card. The tracking and detail I can get back in my account is outstanding.

[misterwrecker]

Originally Posted by simmonsmike7

Being somewhat new to the IM/biz world, I was wondering if these are things that can be written off...

Pay Per Click Cost
SEO Cost
Article Writing
Video Development

All expenses in my book.

What do YOU think?

Yes you want to write these off. These are all BUSINESS expenses. You only pay taxes on PROFIT. If you do not claim these expenses you will be paying taxes on your total revenue. One quick way of determining if you can write it off is ask yourself, "Would I have this expense if I wasn't in Business." Of course that is not full proof but it will work in most circumstances.

[misterwrecker]

I would also like to add to that once you start making money online you want to register a business name and get a business checking account if you haven't already done so. You also want to keep receipts for ALL of your expenses. I am a little old fashioned and I print out all my receipts and keep them in a folder in my filing cabinet. I also save them on my computer but make sure you back them up on a hard drive if you keep everything digital. Write off every VALID business expense but make sure you have proof of payment/purchase.

[ebpglobal]

Originally Posted by Steven Carl Kelly

I pay for everything that I can business-related with my business AMEX card. The tracking and detail I can get back in my account is outstanding.

Yes, AMEX is awesome with the small business/business solutions it offers,and should be your first choice, in my opinion (plus their customer service ROCKS!).

If you are not able to get an AMEX, then try MC or VISA.

My first credit card I opened excliusively for business expences was a separate MasterCard for all of my business expenses, and I don't use it for ANYTHING but business. It is a handy was of keeping track of all items that are automatically charged to your credit card monthly (PPC, all advertising, auto responder fees, ISP, etc. - anything you have to pay by credit card anyways), plus all new products you purchase for yourself or want to try before you decide to sell them.

Also good for off-line costs like laywers, accountants, paper for your printer, new computers toys (I mean computer business hardware). And it keeps all this in one place for the ease of both you and your accountant (if you have one) plus the tax man, if needed.

Edward

[artsub]

Generally speaking, most people should not be answering this sort of question. If someone says "yes you can write that off" that constitutes personal advise, and can get people in all sorts of trouble unless they are are qualified to do so.

Anyone can give general advice like "If it is an expense you incurred in order to run your income producing business, then you can claim it" because that can relate to anyone (general advice, not personal). That is the answer by the way...

[Adrian Cooper]

Originally Posted by simmonsmike7

Being somewhat new to the IM/biz world, I was wondering if these are things that can be written off...

Pay Per Click Cost
SEO Cost
Article Writing
Video Development

All expenses in my book.

What do YOU think?

"Write them off" is somewhat erroneous.

They all need to be accounted for - not disregarded in some way.

Net profit is sales minus expenses and they are legitimate expenses providing you keep hard copies of the paperwork to prove it.

As has been mentioned, few pay proper attention to accounting, not just from the perspective of paying tax - unless you have an offshore company - but so you also know your own financial position to plan for the future.

Just get a copy of Intuit Quick Books and make a point of updating it once per day - probably take 5 minutes.

Part of business is to know your sales and expenses, and also for managing the household as well.

Also if the tax man does single you out for an inspection, you had better have your affairs in order.

[artwebster]

Thank heavens somene spotted the 'write off' use before I decided to post here.

You should never, ever write anything off unless you know it is an expense that can not be set off against your business income (like buying your wife a special birthday present) or any other form of income for tax purposes.